On September 25, 2020, the Honourable Andrew Furey, Premier of Newfoundland and Labrador, and the Honourable Andrew Parsons, Minister of Industry, Energy and Technology, announced the establishment of an oil and gas industry recovery task force, co-chaired by Bill Fanning, and Karen Winsor, two members of the Oil and Gas Industry Development Council. Task Force members were announced on October 15, 2020, with the first meeting taking place on October 20, 2020.
Reporting through the provincial Oil and Gas Industry Development Council (Council), the Task Force will focus on:
- Immediate actions required to sustain the offshore industry in Newfoundland and Labrador and submit recommendations to the Council within 90 days of the first meeting of the Task Force; and,
- Provide recommendations for eligibility parameters and prioritization criteria for provincial delivery $320 million in funding from the Federal Government within 30 days of the first meeting of the Task Force.
The Task Force will consult with and solicit input from targeted stakeholders as required. The Task Force also may issue interim reports or individual recommendations on pressing issues prior to the release of the final report. Any long-term actions identified by the Task Force will not be included in the final report but will be handed over to the Council for follow-up.
The Task Force is structured under four main work streams:
- Policy and Regulation;
- Exploration and Development;
- Energy Transition; and
- Supply Chain.
The Task Force mandate and deliverables can be found in the Terms of Reference.